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Rajesh says to use opportunity in Educomp


Rajesh says to use opportunity in Educomp
Nifty Support & Resistance

Nifty June has resistances at higher levels of 5500 and 5520; if it breaks the 5520, Nifty has the potential to go further till 5555 / 5575.


Immediate supports will be at the level of 5485 / 5470. Breaking 5435 will be the bear indication and it will lead till 5400 – 5380 levels.

If it closes below 5340, then there will be trouble for Bulls.

Bank nifty future: (Refer Chart: - Bank Nifty )
Bank Nifty will have resistances at the levels of 10920 / 10965. Its support level be at 10820 / 10770

Delivery pick (Refer Chart:- Educomp )
Educomp has fall from Rs 490 levels. After 10 straight red candles (each candle representing a day), on Friday the stock's closed showed positive signal as the close was higher than the open. Even the hourly MACD turned into positive, one can buy at lower levels with stop loss at Rs 488 for the target Rs 413 or the secondary target of Rs 425.

Intra Day Calls:

Sell at levels of Rs 532
Stop Loss Rs 539
Target Rs 525 / 517

Sell below Rs 428
Stop Loss at Rs 432.50
Target Rs 423.50

OneIndia Money DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. OneIndia Money does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Story first published: Monday, June 27, 2011, 9:04 [IST]
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